Transparency Market Research talks of the various possibilities and situations that might occur in the future for pharmaceutical contract manufacturers in a report titled “Pharmaceutical Contract Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 – 2018.”
Pharmaceutical contract manufacturing is considered to be a field of key opportunities in the coming years. Europe and North America are under heavy regulatory constriction when it comes to the pharma industry. Even the large players in these regions have to deal with the pressure of high cost containment within these regions.
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This is a prime driver for the global pharmaceutical contract manufacturing market due to the large number of pharma companies that are focused on drug discovery and development. Currently, drug development processes take an average of 10 to 15 years till a drug can be commercialized. The average price of the entire process can rise to as much as US$1 bn. This is driving a lot of pharma companies to the global pharmaceutical contract manufacturing market for economic solutions.
As a result of the economic slowdown and the tight deadline constraints faced by pharma players in Europe, a lot of them are resorting to outsourcing multiple processes as it allows them to save both time and money in the long run.
Another key factor driving the demand for the global pharmaceutical contract manufacturing market is the greatly intensifying competition among pharma companies that offer generic products. In addition to this, players are changing their strategies due to factors such as the reducing average time of patient tenure, the fall in the level of productivity in research and development efforts, and the constantly increasing regulatory pressure laid on pharma companies by governments.
North America has so far been the leading region in the global pharmaceutical contract manufacturing market, owing to its high demand in it. Europe follows in second place. Both key regions hold a large number of pharma companies that adopt large-scale outsourcing of contract manufacturing as it helps the companies invest more focus in research and development efforts. As a result, these companies can avail of the wider range of services that pharmaceutical contract manufacturers have to offer today. Asia Pacific is showing a very high rate of growth in pharmaceutical contract manufacturing owing to the quick rate of evolutions in its healthcare sector and an increasing rate of government support shown for various medical activities.
Key players in the global pharmaceutical contract manufacturing market include Jubilant Life Sciences Limited, Althea Technologies. Kemwell Pvt. Ltd., Catalent Pharma Solutions, Dishman Pharmaceuticals and Chemicals Limited, HAUPT Pharma AG, NextPharma, Nipro Corp., and Royal DSM N.V.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.Editor's Details
Last updated on: 04/10/2016
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